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Friday, August 2, 2013

The Faux Rise and Very Real Fall of Akron's Own Anthony Davian

Posted By on Fri, Aug 2, 2013 at 11:56 AM

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The Southern Investigative Reporting Foundation (SIRF) snagged a good one when a reporter looked into the past and present of Anthony Davian - head of Davian Capital Advisors, based out of Akron.

Thick with tales from all sides of the matter, the story details how a young hedge fund manager dragged investors into a trap and did everything he could to maintain the guise.

As SIRF writer Roddy Boyd explains, his work "uncovered a very different reality behind the well-constructed image of Anthony Davian and his fund. It appears that Davian’s greatest accomplishment may be the invention and marketing of his image as a tech-savvy fund manager of an immensely successful hedge fund portfolio."

As it played out over recent years, however, that image added up to an overly transparent scheme that prompted far too many raised eyebrows.

To illustrate: Former Florida State University students traveled to Akron to look into a job with Davian. He welcomed them with open arms. In reality, though, the FSU students were there to investigate their own suspicions. After leafing through some marketing documents and realizing no one seemed to actually work for Davian Capital Advisors, the students quietly helped expose the fraud.

There are plenty more anecdotes and a lot of terrific reporting in Boyd's story.

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